ccording to company executives the online gambling operator wants to increase its share of of the healthy sports booking industry in Britain. The company plans to divert some of its advertising expenditure from elsewhere in Europe and seek inroads into established territories, says CEO Andrew McIver.
At present, Sportingbet spends just under us$ 100 million on advertisements throughout the EU each year. “We are coming from a low base and can compete with the likes of William Hill and Ladbrokes,” said McIver.
The company head is hoping, that with proper marketing, Sportingbet can build its UK business from its current 6 % of company revenues to ten per cent, in a year and a half.
Their new agressive strategy began with its signing of sponsorship deal with the Wolverhampton Wanderers, less than a month before the football club earned promotion to England’s Premier League, the world’s most popular and visible football association.
Sportingbet is shifting its focus to sports as poker participation overseas is fading, and casino competition is fierce. Meanwhile, sports betting continues to grow in opportunities and market size.
The online gaming site reported a 34 % leap in third quarter earnings this week and said that the summer had got off to a strong start despite the end of the football season.
Sportingbet had revealed that despite the recession, underlying profits had risen to us$ 15.6 million and net gaming revenues had lifted to 8 % in the three months to April 30th. The firm said they are “cautiously optimistic” over the full year outcome, with year-to-year date adjusted earnings ahead by 37 % to us$ 41.5 million.